Common use of Subordination of AHIF Loan Clause in Contracts

Subordination of AHIF Loan. (a) The County Board hereby agrees to subordinate the lien and operation of its AHIF Deed of Trust to the lien of the VHDA Deed of Trust (CD 210-Conv) by executing the Subordination Agreement substantially in the form attached hereto as Exhibit D. The Subordination Agreement shall set forth the respective rights and obligations of VHDA and the County Board. The Subordination Agreement shall be recorded in the land records of Arlington County, Virginia. (b) Borrower must obtain County Board approval prior to obtaining any additional financing which would be senior in priority to the lien and operation of its AHIF Deed of Trust, at which time the County Board may require revisions to the occupancy and affordability covenants set forth in Article IV of this Agreement and the Restrictive Covenants.

Subordination of AHIF Loan. (a) The County Board hereby agrees to subordinate the lien and operation of its AHIF Deed of Trust to the lien liens of the VHDA Deed deeds of Trust (CD 210-Conv) trust related to the Senior Debt by executing the Subordination Agreement Agreement, substantially in the form attached hereto as Exhibit D. E. The Subordination Agreement shall set forth the respective rights and obligations of VHDA and the County Board, VHDA, APAH, and the Borrower. The Subordination Agreement shall be recorded in the land records of Arlington County, Virginia. (b) Borrower must obtain County Board approval prior to obtaining any additional financing which would be senior in priority to the lien and operation of its AHIF Deed of Trust, at which time the County Board may require revisions to the occupancy and affordability covenants set forth in Article IV of this Agreement and the Restrictive Covenants.

Subordination of AHIF Loan. (a) The County Board hereby agrees to subordinate the lien and operation of its AHIF Deed of Trust to the lien and operation of the VHDA Xxxxxx and Dunlop Deed of Trust (CD 210-Conv) by executing the Subordination Agreement substantially in the form attached hereto as Exhibit D. The Subordination Agreement shall set forth the respective rights and obligations of VHDA Xxxxxx and Dunlop and the County Board. The Subordination Agreement shall be recorded in the land records of Arlington County, Virginia. (b) Borrower must obtain County Board approval prior to obtaining any additional financing which would be senior in priority to the lien and operation of its AHIF Deed of Trust, at which time the County Board may require revisions to the occupancy and affordability covenants set forth in Article IV of this Agreement and the Restrictive Covenants.